Why Nike Stock Jumped Higher Today
Shares of the world's most popular athleticwear brand, (NYSE: NKE), were up 5% as of noon ET Monday, according to data provided by S&P Global Market Intelligence.
The increase is due to investment firm Jeffries raising its price target on the company to $115 per share, a 46% increase from its current price.
Nike's stock cratered 55% from its highs after the company alienated many of its product distribution partners over the last few years. Seeing initial success from its in-house Nike Direct and Nike Digital operations, the company leaned into its own sales capabilities in favor of maintaining relationships with its wholesale partners.
Source Fool.com
Nike Inc. B Stock
€57.15
-0.780%
The stock is an absolute favorite of our community with 64 Buy predictions and no Sell predictions.
With a target price of 75 € there is a positive potential of 31.23% for Nike Inc. B compared to the current price of 57.15 €.
